Alecta broke the rules, says Swedish FSA, as it mulls intervention
Occupational pensions giant says will respond to watchdog’s letter by 6 September
LGPS Central appoints Longview Partners as global equity manager
Longview joins the existing managers Harris, Schroders, and Union
Achmea Investment Management acquires Dutch Blue Sky Group
The asset management arm of the pension provider of the three pension schemes of airline KLM had been put up for sale in March
UK pension schemes endorse call for policy shift to combat climate change
The call is endorsed by 35 pension schemes with assets totalling £84bn
BaFin changes supervisory practice following ESMA’s fund names guidelines
ESMA’s guidelines will ‘completely replace’ BaFin’s old supervisory approach, says BaFin’s Thorsten Pötzsch
UK regulator clarifies capital release expectations for superfunds
The market is expected to operate on the updated guidance ‘for some time’ before legislation passes
Universities Superannuation Scheme reports £9.2bn DB surplus
The value of the DB fund increased by £1.7bn over the year to 31 March 2024
ESG terms dropped from 30 fund names, says Morningstar
But SFDR reclassifications fizzle out
AMF posts 5.7% return amid slow Swedish economic recovery
Blue-collar pension fund says all asset classes contributed to positive return, with equities gaining 13.6%
BASF Pensionskasse amasses €4.6bn in new fund of funds
The scheme has seen an increase in its allocation to European bonds and global bonds, offset by a decline in emerging market bonds
TPR reaches agreement with ITV after lengthy legal battle
Box Clever members are expected to receive full benefits following an in-principle deal agreed between TPR and ITV
People moves: ABP chief to take role at SBZ Pensioen
Plus: South Yorkshire Pensions Authority adds to pension board; DWS appoints UK country officer
Shell to pay at least €500m to Dutch pension fund upon switch to DC
The agreed compensation for the disappearance of the sponsor guarantee is several hundreds of millions of euros higher than previously foreseen by the company
German church scheme shifts strategy towards bonds in developed countries
As a result, equity investments were cut, particularly European stocks
AP7 beats private premium pension funds with 16.1% return in first half
State-operated pension fund produces higher return than the 14.9% average of privately-run investment options
Second-pillar pension reform can impact employers’ costs, says APK
New thresholds affect almost all members and employers, leading to higher costs for occupational pensions and additional administration
Railpen takes ‘holistic approach’ to external managers
Scheme wants any external managers to look at mandates in the context of a wider growth fund or pooled fund rather than a standalone mandate
France’s FRR ramps up equities as investment horizon extended
Pension reserve fund estimates a median €1.8bn in extra value creation by 2033
Italy’s pension funds association expects to raise €500-600m for FoFs with EIF
Assofondipensione plans to set up FoFs for infrastructure, private equity, private debt, and possibly venture capital, with European Investment Fund
UK government announces ‘landmark’ pensions review
Chancellor of the exchequer, Rachel Reeves, says the review is set to boost investment, increase pension pots and tackle waste in the UK pensions system
PBU and Nordea top Danish H1 pension returns ranking
AkademikerPension CIO says Ukraine, Gaza and other geopolitical tensions make full-year returns forecasts extremely hard
‘Immediate changes’ to reduce UK Stewardship Code reporting burden
Financial Reporting Council provides update following first stage of ‘fundamental review’ of Code
Smart Pension publishes blueprint for implementation of key policies
Smart Pension outlined key actions for new UK government to ensure the financial security of savers in retirement
Social partners slam German government’s plans to cut first-pillar funds
Germany plans to reduce public subsidies for the pay-as-you system between 2025 and 2027
Changing macro environments lead to asset allocation shift for SWFs
SWFs are actively reassessing their asset allocation strategies, seeking to reduce their exposure to duration risk, says Invesco report
IASB faces tough choices on pollution pricing mechanism accounting
Chair Andreas Barckow says that although the issue ‘is not prevalent and material right now’, that position could change
Flodén to replace Sidenmark as AMF board decides time ripe for change
Long-term CEO agrees it’s a good time to pass on leadership at Sweden’s second-biggest workplace pension fund
Border to Coast seeks manager for £6.8bn global equity alpha fund
The investment pool is looking for a manager that is philosophically aligned with growth investing and can identify emerging structural growth opportunities
Italian vets scheme picks bfinance to design sustainable investment policy
Enpav’s investment strategy has so far lacked the integration of ESG criteria
Swiss pension funds gauge impact of second-pillar reform
Stiftung Auffangeinrichtung BVG says would record lower losses of around CHF3m per year following the reduction of the conversion rate
AP1 reports 5% first-half return despite 20% knock to infrastructure
Swedish national pensions buffer fund is first to report 2024 interim results
Ircantec adds ESG criteria to fiduciary agent variable pay
Plans to adopt biodiversity policy this year, and launches social bond fund
Bonus Pensionskasse cuts European and EM equities to boost returns
The scheme’s performance benefitted from reshuffling regional equity allocations, with a more robust weight to global equities
People moves: London CIV chief to step down
Plus: Francine van Dierendonck leaves APG Group’s board; Aon names head of reinsurance solutions
‘Business as usual’ for UK pensions schemes following King’s speech
Labour government introduces Pensions Scheme Bill
Investors draft guidelines for tech ethics at portfolio companies
Responsible investors are increasingly concerned about the implications of AI and other technological advancements
Isio to start rating fiduciary managers on insurance capability
Only three out of 11 managers are rated as market leading on insurance capability by Isio
Evonik’s Pensionskasse revamps fixed-income portfolio
For the move, the pension fund held back on real estate and infrastructure investments
Cost Transparency Standard for pension schemes launches in Ireland
It will enable trustees to better understand the investment costs they pay and to benchmark these costs against their peers
RWE Pensionsfonds strengthens cash flow investment strategies
The scheme has fine-tuned its strategic asset allocation after conducting ALM studies
Big pension funds challenge PRI over value proposition
Asset owners respond to consultation on the future role of UN-backed body
Smart Pension completes tenth acquisition bringing AUM to £6bn
The master trust anticipates reaching £10bn in AUM within three years
Pensions experts propose further changes to Germany’s second pillar reform bill
The draft bill misses the opportunity to adjust the level of pensions after inflation, says WTW
ICGN sets out investor sustainability assurance expectations
The corporate governance group has called on national regulators to adopt upcoming IAASB and IESBA sustainability assurance standards
ISSB vice-chair rules out changes to its sustainability rules
“We’re not in the market for collecting suggestions for amendments to brand new standards”, says Sue Lloyd
Wiltshire Pension Fund appoints LOIM, Barnett Waddingham
The scheme will invest £75m in LOIM’s Planetary Transition strategy
Dutch insurers expect €20-30bn in buyouts until 2027
The predictions come as insurance firms have struggled to seal buyout deals with pension funds in recent years
Norway’s KLP defence risks blurring all procurement rules, says Storebrand
Government ‘seems to be picking a fight with Brussels’ by rejecting ESA’s backing of complaint over lack of mandatory municipal pensions tendering, Hippe says
NGOs announce ‘independent, science-backed’ taxonomy to raise EU game
New platform ‘not intended as critique of EU taxonomy’
Corporate debt could become more attractive than equity under climate scenarios
Prompt and robust abatement action is needed to keep losses below 10%, research by EDHEC Business School shows